Resident and commercial property transactions are expected to pick up following the conclusion of the nine-in-one elections, online property sales agency HouseFun (好房) said yesterday.
HouseFun head Ni Tzu-jen (倪子仁) said that property developers are scheduled to launch more than 40 projects with a total value of about NT$230 billion (US$7.41 billion) on expectations that buyers would return to the market.
Despite the Chinese Nationalist Party’s (KMT) crushing defeat, market analysts are hopeful that the end of the elections could prompt investors to buy, which would help the property market climb out of the doldrums.
According to Sinyi Realty Inc (信義房屋), the elections prevented many buyers from taking the plunge, so transactions of homes, shops and offices last month fell about 10 percent from October.
Data released by H&B Realty (住商不動產) also showed that residential and commercial property transactions dropped more than 6 percent sequentially last month.
A survey by Sinyi Realty showed that almost 50 percent of buyers planned to enter the market after the elections.
Ni agreed, saying that property developers are gearing up to attract as many home buyers as possible to push up transactions.
Strong buying interest is expected to be felt by the end of the year, a peak season for the property market, and could continue into the Lunar New Year holiday in mid-February.
However, Ni said that home buyers should be alert to potential changes in government policies, such as tightening measures to rein in soaring home prices or the ending of the US Federal Reserve’s quantitative easing.
POOR INTERNAL CONTROLS: Insurance Bureau Director-General Shih Chiung-hwa said the company is expected to get back on track while its chairman is suspended The Financial Supervisory Commission (FSC) yesterday fined Shin Kong Life Insurance Co (新光人壽) NT$27.6 million (US$939,415) for a reckless investment that endangered its solvency, and suspended its chairman Eugene Wu (吳東進) for poor supervision. The penalty is the second-highest in a single case after Nan Shan Life Insurance Co (南山人壽) was fined NT$30 million in September last year and its chairman Du Ying-tzyong (杜英宗) suspended for two years, the commission said. In three rounds of special and regular examinations conducted since last year, the commission found that Shin Kong Life had given too much power to an asset and liability management committee
Continental AG, which makes control units for Daimler AG cars, cannot pursue antitrust claims against a group of patent owners, including Qualcomm Inc, which are seeking royalties on telecommunications technology, a federal judge in Texas ruled. Avanci LLC, a licensing pool formed by Qualcomm, Nokia Oyj, Sharp Corp and other owners of patents on technology standards, is not breaching antitrust laws when it negotiates license agreements with automakers rather than the component makers, Barbara Lynn, chief district judge for the Northern District of Texas, said in dismissing the suit in a decision posted on Friday. The licensing group charges US$15 per vehicle
Sony Corp has cut its estimated Play Station 5 (PS5) production for this fiscal year by 4 million units, down to about 11 million, following production issues with its custom-designed system-on-chip (SOC) for the new console, people familiar with the matter said. The Tokyo-based electronics giant in July boosted orders with suppliers in anticipation of heightened demand for gaming in the holiday season and beyond, as people spend more time at home due to the COVID-19 pandemic. However, the company has come up against manufacturing issues, such as production yields as low as 50 percent for its SOC, which have cut into
HEAVY INVESTMENT: Moody’s affirmed the firm’s ‘Aa3’ rating with a ‘stable’ outlook due to its leading position in the industry and ability to match customer requirements Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) revenue this year is expected to increase about 21 percent to NT$1.29 trillion (US$44.01 billion) from NT$1.07 trillion last year, driven by strong demand for advanced 5-nanometer and 7-nanometer chips mainly used in smartphones and high-performance computing devices, a Moody’s Investors Service report on Wednesday said. TSMC’s rate of revenue growth next year is to increase to 7.5 percent, the ratings agency said. The company, which supplies 5-nanometer chips for Apple Inc’s new iPad series, has introduced the advanced chips ahead of its competitors and gained a significant share of the market for the foundry industry’s